Essar refinery upgrade a success as Vadinar re-opens for business October 24, 2011 ESSAR Energy’s Vadinar refinery will hit an increased capacity of 375,000 barrels per day (bpd) by the end of March, the company said yesterday. The energy company had shut the refinery in western Gujarat state last month for 35 days to raise capacity by 25 per cent and upgrade it to process more heavy and [...]
Dragon Oil upbeat on its growth rates until 2015 as production forges ahead October 24, 2011 TURKMENISTAN-FOCUSED oil firm Dragon Oil said it was confident of maintaining its 10 to 15 per cent target growth rate to 2015, putting it on track to produce 100,000 barrels of oil per day (bpd) in four years’ time. The company said that following a detailed review of its oil fields, it expected to be [...]
Premier produces its first gas from Indonesia field October 24, 2011 FTSE 250-listed Premier Oil yesterday announced its first gas production at the Gajah Baru field in Indonesia. Premier achieved first gas after receiving the ministerial consent to complete commissioning at a rate of up to 50bn British thermal units per day (bbtud), it said in a statement yesterday. The firm also said its previously announced [...]
FedEx expects record shipments October 24, 2011 E-commerce will drive record holiday shipments this year for FedEx Corp, the world’s second-biggest package delivery company said yesterday. FedEx expects to deliver more than 260m packages globally between Thanksgiving on 24 November and Christmas, up 12 per cent from a year earlier. FedEx said it will add about 20,000 seasonal workers to help handle [...]
Saab still in talks with Chinese October 24, 2011 The owner of troubled Swedish carmaker Saab is still talking to would-be Chinese buyers, hours after scrapping a planned cash lifeline and days after spurning their total buyout bid. Saab owner Swedish Automobile said late on Sunday it was cancelling a planned €245m investment deal signed in June, under which Zhejiang Youngman Lotus Automobile and [...]
TNK-BP will not join suit against BP October 24, 2011 THE BOARD of TNK-BP Holding, the Russian energy venture half owned by BP, yesterday voted against an initiative to join a minority shareholder in a lawsuit against the British oil major, a spokesman for BP in Moscow said. “The board of directors voted against joining the lawsuit at its meeting,” Vladimir Buyanov said, confirming a [...]
TomTom begins turnaround October 24, 2011 Dutch sat-nav maker TomTom is switching its focus away from the cash-bleeding personal navigation devices (PNDs) that made it a household name to its car and mapping services to restore growth and profits. Best known for its PNDs used by car and truck drivers, TomTom also sells real-time traffic services through its internet-connected devices and [...]
Alterian knocks back SDL’s £50m cash takeover offer October 24, 2011 MARKETING software provider Alterian has rejected an all-cash takeover approach from British translation software firm SDL that values it at about £50m. SDL, which provides translation services to multinationals such as Bosch, GlaxoSmithKline and Microsoft, said yesterday it had sent a letter to the board of Alterian on Friday outlining its interest in buying the [...]
IHG BOOSTED BY AMERICAN DEMAND October 24, 2011 INTERCONTINENTAL Hotels Group, which owns the Crowne Plaza and Holiday Inn brands, said yesterday its total revenues per available room (RevPAR) at its American operations rose 9.5 per cent during the third quarter. The figure was up from 6.6 per cent a year ago, and outperformed broader industry growth of 7.9 per cent
Compass snaps up cleaner ICM October 24, 2011 COMPASS Group has bought Integrated Cleaning Management as the catering giant looks to strengthen its support services. The company said its latest acquisition, which was made for an undisclosed sum, meant it could offer high-quality cleaning solutions to more organisations across the UK. ICM works at 3,800 client sites across corporate office, hospitality, leisure and [...]
